Total rental return in 2008: $730 per week or $37,960 pa (for the 3 villas)

6.75% gross yield

The land (with existing old house) for this development was purchased in May 2007. The purchase price was $228,000. This property was carefully chosen for the client by Property Bloom™ for development for two main reasons:

The land was DA approved to build four x 2 bedroom villas.

The location. The land is situated IMMEDIATELY behind the main shopping street and CBD.

The property is located in a quiet street extremely central to all amenities including; approx 200m walk to shops and post office, playing fields and parkland are within 1km, within 2.kms to the hospital, 400m to a primary school, within 1km to a high school, 1kms to a bowling club.

Internal living area of villas 1 & 2: 68sqm
Internal living area of villa 3: 69sqm